Another View: An effective tool for empowering the 'financially under-served'

ANOTHER VIEW

9:21 PM,
Feb. 13, 2014

Hogarth

Written by

Jeanne Hogarth

How do you access your wages if you don't have a bank account to deposit your paycheck? Do you ask your employer to pay you in cash? Do you pay fees to a check-casher?

In either scenario, you're left with a large sum of cash and will likely need to pay additional fees for money orders in order to pay your bills.

This is reality for the 54,000 Iowa families who are unbanked. They don't have access to the most basic financial services, like a bank account or a credit card. They can't use direct deposit. They need another option. ...